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Rcom rings loud on plan of setting up sub-sea cable linking Mumbai to Singapore

20 Jun 2014 Evaluate

Reliance Communications is currently trading at Rs. 150.40, up by 1.30 points or 0.87% from its previous closing of Rs. 149.10 on the BSE.

The scrip opened at Rs. 149.45 and has touched a high and low of Rs. 150.70 and Rs. 148.00 respectively. So far 202284 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 164.45 on 20-Sep-2013 and a 52 week low of Rs. 105.80 on 28-Aug-2013.

Last one week high and low of the scrip stood at Rs. 154.35 and Rs. 141.60 respectively. The current market cap of the company is Rs. 31073.92 crore.

The promoters holding in the company stood at 67.80 % while Institutions and Non-Institutions held 20.82 % and 11.11 % respectively.

Reliance Communications (RCom) is planning to set up sub-sea cable linking Mumbai to Singapore with a total investment of $200 million. The new ICX cable is part of the company’s strategy to provide a direct route to emerging markets corridor.

RCom, which is also in discussion with three entities to partner in the project, will spend around $40-45 million in the cable system. The remaining amount would be brought in by its three partners, of which one is a technology partner.

The submarine cable would have landing stations at Mumbai, Thiruvananthapuram and Chennai, before proceeding to Singapore. Moreover, the setting up of sub-sea cable will be completed in 24 months.

Reliance Communications is India’s foremost and truly integrated telecommunications service provider. The company, with a customer base of about 150 million, including over 2.5 million individual overseas retail customers, ranks among the Top 4 Telecom companies in the world by number of customers in a single country.

Reliance Comm Share Price

1.05 0.01 (0.96%)
17-Apr-2026 16:59 View Price Chart
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